2023年1月31日星期二

Copper Price Doubles: Profit with These 3 Stocks

The world's largest producer of the metal so vital to EVs – copper – admits that it's facing a major long-term problem. Copper production in Chile, the world's largest producer of the metal, will grow at a slower rate this decade than previously hoped. This dire forecast comes from a Chilean government report.

Copper Price Doubles: Profit with These 3 Stocks  

Tuesday, January 31, 2023

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The world's largest producer of the metal so vital to EVs – copper – admits that it's facing a major long-term problem.

 

Copper production in Chile, the world's largest producer of the metal, will grow at a slower rate this decade than previously hoped. This dire forecast comes from a Chilean government report.

 

The report estimates that output of copper will peak at some 7.14 million tons in 2030, two years later than anticipated. That’s due to delays of mining projects.

 

These projections assume that 100% of planned mining projects come online. Even the biggest optimist would say that is unlikely.


The price of copper near nearly doubled since 2020 – topping $9,000 per ton.

 

Production snarls in Chile will likely prop up the global price of the metal. Plus, protests in neighboring Peru have reduced production in the world's second-largest copper producing country.

 

Plus, China’s reopening could spark increased demand in 2023.

 

Rising prices are good news for major copper miners. Three of the world’s biggest copper producers include Freeport-McMoRan (NYSE: FCX), BHP Group (NYSE: BHP) and Glencore (OTC: GLNCY). These three stocks should see profits grow as a result of the rising commodity price.

 

And copper is not alone. Thanks to China's reopening, industrial metals have ripped higher since November. A group of industrial metals led by tin, zinc and copper have surged more than 20% in just three months.

 

The move higher was further supported by the Federal Reserve signaling a slowdown in the pace of interest rate rises, which led to a softening in the U.S. dollar, which importers use to buy commodities.

The move toward electrification of everything is also spurring increased demand metals. And this includes the explosive growth in electric vehicles around the world.

 

That’s why Elon Musk is taking drastic steps and investing billions of dollars is THIS.

 

It’s all part of his Secret Master Plan 3.0.

 

This CONFIDENTIAL plan is not currently public. However, today you can access urgent details before the news breaks.

 

Just click here for instant access.

 

Tony Daltorio

Editor @ Wall Street Spy


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According to Goldman Sachs (NYSE: GS), Tesla (NASDAQ: TSLA) could see one heck of an electrified move in 2023. Goldman Sachs says Tesla could be on the BRINK of a major jump. Here's why --- Based on the last earnings call, Goldman Sachs says that “Given the focus of investors on Tesla’s delivery volumes in particular (and the importance of volume for its vertically integrated model and the cost benefits long-term of its newer factories when at scale), we see the order strength as the most important takeaway from the call.” We continue to believe that the company is well positioned for long-term growth given its leadership position, both in terms of cost structure and as a full solution provider in clean mobility.”

 

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In mid-January, Tesla made new price cuts on new models in the U.S. and Europe. This is FANTASTIC news for the future of EVs. One of the main problems of EV adoption was their exorbitant price. And now that changed overnight. These new price cuts could seriously boost the adoption of EVs, especially with some Tesla models selling as low as $13,000.

 

 

 

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